Data shows that in two distinct transactions, Ripple released one billion XRP, or around $470 million worth tokens. Read it on.
- Data shows that in two distinct transactions, Ripple released one billion XRP.
- XRP is down 4.22% in the last 24 hours as per CMC.
In the action brought forward by the U.S. Securities and Exchange Commission (SEC), Ripple Labs and XRP holders are anxiously awaiting a Summary Judgment. Ripple, however, has released additional XRP into circulation as the day of reckoning draws near.
Data shows that in two distinct transactions, Ripple released one billion XRP, or around $470 million worth tokens. The most recent escrow release suggests that 52 percent of the XRP has entered circulation.
All Eyes on Lawsuit Judgment
A tracker was monitoring the Bitstamp cryptocurrency exchange during the escrow release when a whale wallet dumped 29 million XRP (about $13.7 million) into the market. According to CMC, the XRP price today is $0.459756 USD with a 24-hour trading volume of $891,234,934 USD. XRP is down 4.22% in the last 24 hours.
Even with legal difficulties from the U.S. SEC, Ripple’s native cryptocurrency still has a market worth of over $24 billion. Undoubtedly the result of the ongoing litigation with the SEC will have a huge impact on the price of XRP.